Viral Pneumonia is a perilous disease caused by the contamination of lungs. The air sacs in the lungs get filled with pus and other fluids, which makes it difficult for the patient to breathe. Viral pneumonia strikes rapidly and can be hazardous if left untreated. Viral pneumonia can introduce itself as a bad cough and common cold. Across the world, viral pneumonia cases account for around one-third of the total pneumonia cases. In 2014, the Center for Disease Control (CDC) ranked pneumonia combined with the flu as the 8th leading cause of death in the United States. High adoption of Viral Pneumonia Treatment by patients as well as healthcare personnel will propel market growth during the forecast period.
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Viral Pneumonia Treatment: Drivers and Restraints
Increasing prevalence of pneumonia and increasing consumer awareness about it are the two major factors fueling the growth of the Viral pneumonia market. Pharmaceutical companies are focusing on developing distribution channels and increasing their sales force in untapped markets and entering into strategic partnerships with local distributors. The substantial growth of the viral pneumonia market during the forecast period can be attributed to the rapid advancements in technology. These days, diagnosis of pneumonia has become faster and cost-effective with improved specificity and sensitivity, which will further increase the demand for viral pneumonia treatment. However, diagnosis and management of pneumonia usually poses a little difficulty in community settings.
Viral Pneumonia Treatment: Overview
The demand for Viral Pneumonia Treatment is going to give a major impetus to the manufacturers during the forecast period. In recent years, Pneumonia Diagnosis has become a primary tool for effective treatment and control of pneumonia mortality rate in children and elderly population. According to the 2010 Global Burden Of Disease Study, most of the pneumonia-related deaths happen due to infection, with approximately 90% of deaths due to pneumonia occurring in people aged above 65 years. Pneumonia adds an annual cost of €10 billion to the world’s health budget, mainly due to hospitalization. However, partnerships and collaborations have played a vital role in the enhancement of the Viral Pneumonia Treatment market.
Viral Pneumonia Treatment: Regional Overview
Based on geography, the Viral Pneumonia Treatment market is classified into seven key regions: North, America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East and Africa. The market in North America is supposed to hold the largest share in the global Viral Pneumonia Treatment market. It will be followed by Western Europe due to growing awareness about pneumonia in the region. Growing mortality due to pneumonia and increasing government initiatives are expected to fuel the growth of the Viral Pneumonia Treatment market. The Viral Pneumonia Treatment market in Asia- Pacific region and Japan is anticipated to grow at a high rate owing to the presence of large consumer base and increasing government support through funding and grants. However, the market for Viral Pneumonia Treatment in regions, such as Latin America, Eastern Europe and Middle East and Africa, is estimated to witness stagnant growth during the forecast period.
Viral Pneumonia Treatment: Key Players
Some of the key market participants in the Viral Pneumonia Treatment are Hoffmann la Roche inc., GlaxoSmithKline plc, Pfizer Inc, Novartis, Teva pharmaceutical, Johnson and Johnson and many others. The market of Viral Pneumonia Treatment has witnessed consolidation among key players. Collaborations, partnerships, patent transfers, increasing research and development activities, product introduction, mergers and acquisitions and joint ventures are some of the distinctive trends being witnessed in the Viral Pneumonia Treatment market.
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